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TIME RESIDENTIAL PROPERTY MANAGEMENT
RENTAL POLICY
We require the following for approval to reside at one of our managed properties.
Income · Applicant or Applicants and Spouse combined income must be (3) times the monthly rental amount. · Income amounts must be verified in writing, applicant may provide (2) recent pay stubs. · If applicant is self employed, then the most recent tax return or statements from a CPA must be provided to support evidence of income, if military, please submit your LES and copy of orders.
Supplemental Income All supplemental income must be verified in writing. All verifiable bank accounts. Co-signers income cannot exceed 25% of monthly income.
Rental History · Applicant must have (24) or more months verifiable rental/mortgage history during the past three (3) years with a maximum of two (2) late pays with no NSF during the past twelve (12) months. · Applicant must have no lease violations requiring legal notice. · Applicant must have not received a “NO” answer to question “Would you re-rent to applicant?” · If Applicant has rented from a private landlord the past twelve (12) months, then applicant must provide most recent canceled checks or money order receipts of rental payments made to a private landlord.
Credit History Applicant must have a satisfactory credit rating obtained from a major credit bureau with a Beacon score of 576 or better. Beacon scores from 576-620 will require a 1 1/2 security deposit. Beacon scores below 575 will require a double security deposit and will require a co-signer if accepted. In addition to the above criteria applicant must meet below criteria or applicant will be denied.
Criminal History Applicant must have not have a felony record that was adjudicated guilty or had adjudication withheld for the past 7 years, or any conviction of any length of time for any drug related, sexual related, murder related, arson related crime or any violent crimes against person or property. No misdemeanors within the last 3 years.
Eviction / Broken Lease Applicant must not have been evicted or moved out without notice from any residence the past 5 years.
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